Singapore dollar

SGD redirects here. For other uses see SGD (disambiguation)

The dollar (currency code SGD) is the currency of Singapore. It is normally abbreviated with the dollar sign $, or alternatively S$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.

History

Between 1845 and 1939, Singapore used the Straits dollar. This was replaced by the Malayan dollar, and later the Malaya and British Borneo dollar, which were issued by a central Board of Commissioners of Currency.

Singapore continued to use the common currency upon joining Malaysia in 1963 but, two years after Singapore's expulsion and independence from Malaysia in 1965, the monetary union between Malaysia, Singapore and Brunei broke down. Singapore established the Board of Commissioners of Currency, Singapore, on April 7, 1967 and released its first series of notes, the "Orchid" notes, on June 12, 1967. Nevertheless, the Singapore dollar was exchangeable at par with the Malaysian dollar until 1973. Interchangeability with the Brunei dollar is still maintained.

The Board of Commissioners of Currency, Singapore, was dissolved on October 1, 2002 and its functions, property and liabilities had been transferred to the Monetary Authority of Singapore.

Current status

The Singapore dollar is a freely convertible currency which is allowed to float according to supply and demand on the foreign exchange market, but it is monitored by the Monetary Authority of Singapore against a trade-weighted basket of currencies. The currencies involved are not publicised to protect the currency against speculative attacks and other unusual pressures on the its value.

Since the Asian financial crisis, various other countries have adopted Singapore's managed float system.

Before the crisis 1 USD was worth approximately 1.4, falling to 1.8 SGD. As of 1 May 2006, 1 USD is worth approximately 1.57775 SGD. The Brunei dollar is pegged to the Singapore dollar at 1:1 rate ^*, and the other's currency is accepted as "customary tender", but not legal tender, in both countries.

Coins

To date, two series of coins for circulation have been issued.

First Series (1967–1985)
Second Series Flora Theme (1985–present)

Current coins in circulation

The current series of coins feature the Coat of Arms of Singapore on the obverse, and the Flora theme on the reverse.

Currently Circulating Coins ^*
Value	Diameter	Thickness	Weight	Composition	Edge	Obverse	Reverse	First Issued Date
1 cent¹	15.9 mm	1.1 mm	1.24 g	Copper-plated zinc	Plain	Coat of Arms, "Singapore" in 4 official languages	Value, Vanda Miss Joaquim	September 28, 1987
5 cents	16.75 mm	1.22 mm	1.56 g	Aluminium bronze	Milled	Coat of Arms, "Singapore" in 4 official languages	Value, Monstera deliciosa	December 2, 1985
10 cents	18.5 mm	1.38 mm	2.6 g	Cupronickel	Milled	Coat of Arms, "Singapore" in 4 official languages	Value, Jasminum multiflorum	December 2, 1985
20 cents	21.36 mm	1.72 mm	4.5 g		Milled		Value, Calliandra surinamensis	December 2, 1985
50 cents	24.66 mm	2.06 mm	7.29 g		Milled		Value, Allamanda Cathartica	December 2, 1985
50 cents	24.66 mm	2.06 mm	7.29 g		Inscribed "REPUBLIC OF SINGAPORE" and the lion sysmbol		Value, Allamanda Cathartica	May 28, 1990
$1	22.40 mm	2.4 mm	6.3 g	Aluminium bronze	Inscribed "REPUBLIC OF SINGAPORE" and the lion sysmbol	Coat of Arms, "Singapore" in 4 official languages	Value, Lochnera rosea	September 28, 1987

Note

1 cent coin is currently being decirculated
5 dollar coins exist, but are not being circulated

Banknotes

To date, four series of currency notes for circulation have been issued.

Orchid Series Orchid Series (1967–1976)
Bird Series Bird Series (1976–1984)
Ship Series Ship Series (1984–1999)
Portrait Series Portrait Series (1999–present)

Current banknotes in circulation

These notes feature the face of Encik Yusof bin Ishak, the first president of the Republic of Singapore, on one side, and the other side depicts a feature of civic virtue.

Portrait series ^*
Image		Value	Dimensions	Color	Obverse	Reverse	Issued Date	Watermark	Material
	[http://www.mas.gov.sg/masmcm/upload/mm/MM_D6ED648A_D606_F5E9_64AB2DC454E3A586__D6ED649A_D606_F5E9_69D6CC91CA170F1E/$2%20Paper%20(Back).JPG	$2	126 x 63 mm	Purple	Encik Yusof bin Ishak, Money Cowrie	Education	September 9, 1999	Encik Yusof bin Ishak	Paper
	[http://www.mas.gov.sg/masmcm/upload/mm/MM_D6EDFB1D_D606_F5E9_6FCCC6F8516C8AEE__D6EDFB2C_D606_F5E9_663334FC3A91AC06/$2%20Polymer%20(Back).JPG	$2	126 x 63 mm	Purple	Encik Yusof bin Ishak, Money Cowrie	Education	January 12, 2006		Polymer
		^*	133 x 66 mm	Green	Encik Yusof bin Ishak, Gold-Ringed Cowrie	Garden City	September 9, 1999		Paper
	[http://www.mas.gov.sg/masmcm/upload/mm/MM_DB34ED6E_D606_F5E9_628D39DBF6F2F53D__DB34ED7D_D606_F5E9_647369D005268524/Paper%20$10%20back.JPG	$10	141 x 69 mm	Red	Encik Yusof bin Ishak, Wandering Cowrie	Sports	September 9, 1999		Paper
	[http://www.mas.gov.sg/masmcm/upload/mm/MM_DB37415F_D606_F5E9_6C1EEEBB5D87C859__DB37416F_D606_F5E9_6A3B71E5B3377A29/Polymer%20$10%20back.JPG	$10	141 x 69 mm	Red	Encik Yusof bin Ishak, Wandering Cowrie	Sports	May 4, 2004		Polymer
^*		$50	156 x 74 mm	Blue	Encik Yusof bin Ishak, Cylindrical Cowrie	Arts	September 9, 1999		Paper
^*		$100	162 x 77 mm	Orange	Encik Yusof bin Ishak, Swallow Cowrie	Youth
^*		$1000	170 x 83 mm	Purple	Encik Yusof bin Ishak, Beautiful Cowrie	Government
^*		$10000	180 x 90 mm	Gold	Encik Yusof bin Ishak, Onyx Cowrie	Economics

Trivia

The one dollar coin is inscribed with an octagon, which looks like a ba gua. Some Singaporeans believe that the government had consulted Feng Shui practitioners and designed the coin thus in order to give every Singaporean a lucky charm.

External links

Currencies of Singapore

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